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Putin says Rosneft close to $60 billion China oil deal
Reuters ^ | 06/20/2013 | Alexei Anishchuk

Posted on 06/20/2013 6:14:31 PM PDT by TexGrill

(Reuters) - Rosneft (ROSN.MM) plans to sign a deal to supply China with oil worth $60 billion, Russian President Vladimir Putin said on Thursday, in what could be a further shift in Russian oil flows away from Europe.

Russia has been ramping up oil deliveries to China, and Asia now accounts for almost a fifth of its oil exports.

"A large-scale contract, without any exaggeration, has been prepared by Rosneft. Supplies to China are expected in volumes of hundreds millions of tonnes of oil. And this in total worth over $60 billion," Putin said during a meeting with Chinese Vice Premier Zhang Gaoli at an economic forum in St Petersburg.

Putin, the ultimate decision-maker on Russian energy deals, also told Zhang he had high hopes for cooperation between China and Russian gas companies Gazprom (GAZP.MM) and Novatek (NVTK.MM).

Ties between Russia and China have become increasingly close. They often share a common position on international issues such as North Korea's nuclear program and civil war in Syria.

In March, new Chinese leader Xi Jinping made Moscow the destination for his first overseas trip.


Rosneft agreed to boost oil supplies to China in March, and a source at the state-owned company said Thursday's deal was connected to that agreement.

(Excerpt) Read more at ...

TOPICS: Business/Economy; Foreign Affairs; News/Current Events; Russia
KEYWORDS: chinarussia
Global business tip
1 posted on 06/20/2013 6:14:31 PM PDT by TexGrill
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To: TexGrill

Soon they’ll conquer the dollar. Our leaders probably won’t even know it when it happens.

2 posted on 06/20/2013 8:15:32 PM PDT by gotribe (Limit The Government's Right To Bear Arms)
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To: gotribe


Good thing we’re buying trillions of dollars of Chinese imports.

Sending all that money to China.

Just saying.

3 posted on 06/20/2013 8:17:24 PM PDT by Cringing Negativism Network
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To: TexGrill

The center of the world is shifting from the West to the East.

But, hey, Helicopter Ben is still spooning his sugar so don’t worry, be happy.

4 posted on 06/20/2013 8:24:07 PM PDT by citizen (We get the government we choose. America either voted for Obama or handed it to him by not voting.)
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